NAS100 USD NQ1! NASDAQ 2022 May 30 week
NAS100 USD NQ1! NASDAQ 2022 May 30 week
Last week could be a setup for rotation scenario3 11690-12543.
The influence of minor strength over the 3 TF analyzed proved it is a week for
the longs after price brokeout the dotted trend line...
Note: H4 showed a build up of bullish volume last week. If 12594 is supported
we should look to long on retracement.
Possible scenarios:
1) Rotation Scenario: Rejection of 12594,
possible target will be 11690
2) Scenario 2 Long Set Up: (a) If market test between
12920-12250 and is supported, we may be looking for long opportunity.
(b) Also if 12594 is tested and supported we should then look to long on retracement
Weekly = Average vol up bar closing at high, above high of previous
bar = strength + reversal
Daily = Average vol up bars = minor strength
H4:Very High vol narrow spread up bar followed by lower vol up bar = weakness
Price reaction levels:
Short on Test and Reject | Long on Test and Accept
14729 14365 13587
13025 - 12797
12594 12110 11690
11100-11068
Remember to Like and Follow if you find this useful.
Have a profitable trading week ahead.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.